The Electric Vehicle market has been expanding very quickly in a short period of time globally, there are multiple auto manufacturers who are solely focusing on EV cars, and Asian markets like India are concentrating more on two-wheelers than four-wheelers.
As per a new report from Business Standard, that got access to data coming from India’s Ministry of Road Transport and Highways, only eight companies represent nearly 95% of the market and have registered 32,680 scooters in just May of 2022 alone.
Safety of vehicles is a major reason for the drop in sales of Ather’s EV:
Going by the numbers, we see a staunch decline of 24% on a month-to-month basis in April, the companies had registered 43,098 e-scooters and as per the analysts, the drop is a result of the sudden increase in demand earlier for these vehicles.
The safety of these vehicles in light of recent events where EVs have been catching fire has led to customers being hesitant in purchasing them. Apart from this the ongoing chip shortage has led to a shortage in supply as well and the seasonal factor also plays a role.
Ather is one of the first movers in this sector, it saw a 26% percent increase in EV registrations in May. As per Rushlane, the company sold 3,787 units in May 2022 which was an increase of 8 units in contrast to its sales last month.
Ola Electric, was the leading brand last month but lost its position to Ather. It recorded 8,704 registrations which was a 31% drop in contrast to last month. Okinawa on the other hand had 8,894 registration which is a 19% decrease from April. Bajaj Auto and TVS have not posted their individual numbers.
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